Birmingham's Century Plaza sells for $3 million

The defunct shopping mall off Crestwood and Oporto Madrid boulevards was purchased in December for $3 million by Pelham-based Lumpkin Development.

"The deed needed to be back in Birmingham," said Eddie Lumpkin, president of Lumpkin Development.

Lumpkin said his company, Metro Mini-Storage, will open a location in the former Sears building. The rest of the shopping mall is available for rent, he said.

"We are looking for the right tenants and the right ideas," Lumpkin said, adding the space would be ideal for a company looking for large-scale inexpensive office space.

The 750,000 square feet Century Plaza shuttered in 2009. The enclosed mall first opened in 1975.

Lumpkin said the space would be ideal for a large office, call center, assembly facility or business incubator.

Short-term leases will be offered, Lumpkin said, and space will be leased below market value at $5 a square foot.

Despite being empty for nearly nine years, Century Plaza is in "surprisingly good condition," Lumpkin said. His company is currently working to replace light bulbs and make sure all fire and alarm systems are operating properly.

Lumpkin was represented in the deal by Mark Byers at EGS Commercial Real Estate.

The 65-acre property was previously owned by Howard Hughes Corp. Lumpkin said he also had to negotiate with Sears to buy out the retailers' lease.

Thomas Beavers, senior pastor of New Rising Star Church, made headlines last year about alleged plans to buy Century Plaza for a school and church facility.